Thursday, March 7, 2019

Competition between local and foreign products

One of the fastest dumbfounding countries in the East. This results from requisite phenomena of sphericization that bring together global companies becoming one market place including in Malaysia. Consumers are presented with a variety of transnational brands such(prenominal) as Apple, Mercedes-Benz, and Role watches. Therefore, it increases the degree controversy amid national and foreign yield. Generally, the competition Involves three distinct aspects such as the taste and preference, quality and price range. Foreign and local brands are occupying the local market competitively.Customers references for both brands differ in some ways and one of it is the brand personality. Asker, 1996 mentions that customers preferences are adequate to(p) to the emphasis of brand personality. For example, consumers are much to a greater extent exposed to international brands as these products are Intensely advertised globally to make them more than recognizable worldwide (Hassle, 200 4). As compared to local labels which only(prenominal) limited in stores, foreign labels are way desirable. Other than that, customers preferences are subject to the fixing and environment where the products are available.Both local and foreign merchandises have specific places as where to get heir products. For example, there are plenty of channel stalls offering local foods meanwhile people will have to go to decent places for non-local ones. Customers who prefer more choices will most likely sully local ones. On the other hand, for those who are willing to spend a bit go for non-local ones because of the ambiance plus It Is more hygienic compared to street foods. Accessibility in which customers can reach those products also plays an important image in assisting consumers decision.There is easier access to get local brands compared to foreign brands. For example, customers can dear go to their nearby small groceries shops to demoralise local products. Foreign products suc h as pasta or seasonal fruits Like apples are only available In supermarkets or hypermarkets. Practically, both products have their own singularity and strategies to meet customers wants and preferences. Furthermore, quality Is also one of the aspects in the competitive markets between local products and foreign products.Persona and Mediumistic have been competitors in term of safety and grammatical construction of the vehicle in an self-propelled industry for years. genus Ixia were veritable in Malaysia automotive manufacturer in the name of Persona s company, while Mirage developed In Japan automotive manufacturer named Mediumistic Motor company. Both autos dispense some similarity In terms of safety s quality. It has 5 doors hatchback, point settable, antiknock system with electronic break-force distribution, brake assist, and SOFIA system.Be typefaces that, the differences of safety features for Ixia are dual airbags, solar and security windowpane film and the anchor with integrated remote control. For Mirage, it has 7 airbags which include front and side bags for driver and passenger seats, side curtain bags over front and rear window and knee airbag for driver, usual suite of electronic safety system that consists of stableness locomotecar is rarely different. In this modern era, the facilities of the laborcar are getting more compact and it is fully equipped with modern design and technologies devices.The intragroup design of Mirage is far more behind than Ixia in the recent market arena. For instance, Ixia has touch screen DVD player with Bluetooth and seafaring system, the tissue component behind the front passenger seats as in it interior while the turning signal been located on the retractable mirror as it exterior compare to Mirage which only side mirror deflector, push start button and also smart severalise as its special features. Similarity, both cars have leather seat and leather-wrapped focus wheel.Therefore, Persona Ixia has re ached the value of quality where the price met the expectation of a product. The most noteworthy difference is the price between the local product and foreign product in Malaysia. Commonly, the price of foreign product is more expensive than the local product because it is merchandise from other places which involving shipping fee, specie exchange and taxes for importing goods. For example, when we exchange Ringing to foreign money such as Singapore dollar, the Ringing value is becomes lesser and causing the item has higher(prenominal) price in Malaysia.According to Nikkei Official website 2014, there is an $8 shipping fee will be charge per shoes. Other than that, Malaysia also charges higher tax on foreign product than local products. A motor vehicle is one of the examples that we can speak about. Lee (2013) mention that imputable to the reason on combination of high duties and tax cars plus fall loss from outflow of ringing to foreign country, Malaysia is one of the countrie s that has some of the highest car prices in the world. ENG (2013) said that there is a 65% to 105% chance on tax, plus 10% sales tax was charged on motor vehicle in Malaysia.It is obviously can be seen that the price plays major(ip) role in the competition between local products and foreign products in Malaysia. It is unquestionable, there is a strong competition between local and imported product that offered in our country. Therefore, Malayan citizen should support the Government initiative finished the Buy Malaysia Product Campaign. The implementation of this campaign is to promote interest among the Malaysian consumer to purchase more local brands. In conjunction with that, it helps the local entrepreneurs to grow and compete in producing more quality and standardized product.As a result, it boosts the domestic economy as we can export Malaysian product to other country, at the same time to promote our local products in the global market. One of the examples of successful M alaysian product is KIND, which invented greatest electrical main office appliances and making millions of sales from exporting to over 50 countries (KIND, 2010). Hence, consumers should not underrating our local products but build a positive perception and buy Malaysia made products.

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